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IMF appoints Gita Gopinath as its chief economist

06:31 PM

If the Nifty sustains above 10,900 on a closing basis, a multi-day pullback rally can’t be ruled out. For the time being, the upside looks capped in the 11,145-11,170 zone. Traders are advised to go long in the next session by making use of the initial dip, if any, in the first 30 minutes of trading with a closing stop below 10,900

During the day, the index took support at the 50% Fibonacci retracement level placed at 10,850, suggesting strong support in the 10,800-10,850 range. Moreover, the RSI has turned upward from the extreme oversold levels after forming a positive divergence on the shorter timeframe charts, which indicated room for additional upside in the coming sessions

- Aditya Agarwala, YES Securities

06:30 PM

We observe the formation of a positive divergence in the RSI, which indicated some more upside momentum for the market in next 1-2 sessions

- Nagaraj Shetti, Technical Research Analyst, HDFC Securities

05:43 PM

Nifty witnessed a positive divergence on the daily scale, as technical indicators like RSI did not make any new low. Now, it has to hold above the psychologically important 11,000 mark to witness support-based buying towards 11,080 and then 11,171 levels, while on the downside major support exists at 10,850 level

Nifty may see further rebound, but it's too early to call a reversal. It has immediate hurdle at 11,100. We've list of important data and event viz. auto sales and RBI meet ahead thus we suggest continuing with stock specific trading approach and preferring hedged positions. We believe participation of banking sector would play the key role ahead

- Jayant Manglik, President, Religare Broking

04:39 PM

Stock markets in India started the day in the negative zone and trade below the flat line for most of the day before making a sharp recovery in the last 45 minutes of trade. Solid growth of the manufacturing sector during the latest survey period extended the current run of expansion to 14 months. Barring the realty index, all other sectoral indices on the National Stock Exchange closed the day with gains

- Abhijeet Dey, Senior Fund Manager-Equities, BNP Paribas MF

04:28 PM

Just In

#BreakingNews | 6-member board headed by @udaykotak to elect the chairman in their first board meeting #ETMarkets https://t.co/JunN2T6McP

YES Bank reveals unaudited NPA figure for Q2

Following a steep fall in its share price last week, YES Bank on Monday released its unaudited financial results for the quarter ended September 2018. The company registered 41 per cent year-on-year rise in deposits at Rs 2.23 lakh crore in Q2FY19, while the Casa ratio grew 28.20 per cent YoY.

Check out the top 5 BSE losers

Japan's Nikkei share average rose to a 27-year high on Monday, as an extended weakening in yen helped improved export earnings prospects for Japanese corporations, with a last-gasp deal to salvage NAFTA also lifting sentiment. The United States and Canada forged a deal on Sunday North American time to preserve NAFTA as a trilateral pact with Mexico.

In the mutual fund space, banking as a category slipped the most at 13.37 per cent, followed by smallcaps (down 12.19 per cent), midcaps (down 11.37 per cent) and infrastructure-oriented funds (down 11 per cent). Equity large & midcap, multicap, ELSS, value-oriented, largecap and pharma funds dipped between 4 per cent and 10 per cent.

12:09 PM

Top 5 NSE gainers

Price as on 01 Oct, 2018 12:09 PM, Click on company names for their live prices.

Shares of Bandhan Bank hit a lower circuit limit of 20 per cent in Monday’s trade after the RBI restricted the lender from opening branches freely and freezed remuneration of founder managing director Chandra Shekhar Ghosh at existing level. The RBI punished the bank for failing to reduce promoters' stake to below 40 per cent.

GMR emerges highest bidder for Nagpur Airport project

GMR Airports Limited, a subsidiary of GMR Infrastructure Ltd has emerged as the highest bidder for the Development, Operations and Management of Dr Babasaheb Ambedkar International Airport at Nagpur on a Public Private Partnership (PPP) basis. Two bidders-GMR Airports and GVK submitted their bids. GMR Airports Limited has submitted the highest revenue share bid and expecting Letter of Award shortly.

11:30 AM

Investment tip of the day!

Following a steep fall in its share price last week, YES Bank on Monday released its unaudited financial results for the quarter ended September 2018. The company registered 41 per cent year-on-year rise in deposits at Rs 2.23 lakh crore in Q2FY19, while the Casa ratio grew 28.20 per cent YoY.

Shares of Vakrangee plunged 5 per cent in Monday’s trade after the Ministry of Corporate Affairs ordered an investigation into its books for three financial years under the Companies Act. The stock fell 5 per cent to hit a low of Rs 27 on BSE. The scrip has plunged 93 per cent year-to-date.

11:01 AM

Dr Reddy's terminates Armis Biopharma's investigation license

Dr Reddy's Laboratories Ltd Monday announced the termination of the license granted to Armis Biopharma, Inc.(formerly known as CHD Bioscience, Inc.) for its investigational antibacterial product, DFA-02, for the prophylaxis of surgical site infections (SSIs).

10:50 AM

Government decides to intervene in IL&FS case

#BreakingNews | Govt to take a Satyam like OPS to deal with IL&amp;FS; likely to supercede company board #ETMarkets https://t.co/uRJrwAkbot

In the steepest hike in recent times, oil companies increased jet fuel prices by 7.3 per cent on Monday. A kilo-litre (kl, 1,000 litres) of aviation turbine fuel (ATF) will cost Rs 74,567 and Rs 74,177 in Delhi and Mumbai this month respectively, up from Rs 69,461 and 69,161 in September.

10:37 AM

Maruti Suzuki shares down post September sales figures

Shares of Maruti Suzuki were trading marginally in the red in early trade on Monday after the car major reported 0.50 per cent fall in sales for the month ended September 30, 2018. Maruti Suzuki sold 1,62,290 units last month as against 1,63,071 units in the corresponding period last year.

After falling more than 70 per cent in Friday's trading session, shares of InfibeamNSE 11.72 % Avenues plunged another 21 per cent in early trade on Monday. The scrip was trading 20.58 per cent down at Rs 46.70 at around 9.20 am (IST) on BSE, while the Sensex was down 59 points, or 0.16 per cent, at 36,168 at around the same time.

Technology funds have made more money for investors than any other mutual fund category in the past year. A decline in the rupee against the dollar to record lows and strength in the US economy triggered a rally in technology shares, such as TCS and Infosys, earlier ignored by investors amid worries about insipid growth prospects.

09:53 AM

Brent oil near 4-year high ahead of Iran sanctions

Oil prices opened firmly on Monday, with Brent hovering close its highest in nearly four years ahead of US sanctions against Iran that kick in next month. Brent crude oil futures were trading at $83.04 per barrel at 0057 GMT, up 31 cents, or 0.4 per cent, from their last close and near the $83.07 level reached during the last session - the highest since November 2014.

09:38 AM

RBI to boost liquidity conditions via bond purchases in October

The Reserve Bank of India said on Monday it has decided to buy a total of 360 billion rupees worth government bonds under its open market operations (OMOs) this month, in a bid to ease liquidity conditions in the market.

09:37 AM

Check out the most active stocks on NSE

Price as on 01 Oct, 2018 09:37 AM, Click on company names for their live prices.

Pre-open session: Sensex gains 100 pts; Nifty50 nears 10,950;

Singapore trading sets stage for flat start

Nifty futures on the Singapore Exchange were trading 5 points, or 0.05 per cent, higher at 10,964, indicating a flat start for the Nifty50.

09:06 AM

Tech view: Nifty50 forms bearish candle

The Nifty50 tanked for the third day in row on Friday, forming a bearish candle on the daily and weekly charts. Last Friday’s closing level offered strong resistance to the index for the entire week, while that day’s low offered support. Analysts feel if the index stays below 11,050, the short-term outlook will remain negatively biased. Small comebacks, though, cannot be ruled out.

09:06 AM

Asian stocks mixed

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.1 per cent in early trade, led by fall in Australia, though activity is likely to be slow due to holidays in China including Hong Kong. Japan's Nikkei gained 0.25 per cent.

09:06 AM

Oil prices firm up

Oil prices opened firmly on Monday, with Brent hovering close its highest in nearly four years ahead of US sanctions against Iran that kick in next month, Reuters reported. Brent crude oil futures were trading at $83.04 per barrel, up 31 cents, or 0.4 percent, from their last close and near the $83.07 level reached during the last session - the highest since November 2014.

09:06 AM

China’s manufacturing growth weakens

Casting a shadow in Asia, two surveys showed on Sunday that growth in China’s manufacturing sector sputtered in September as domestic and export demand softened, Reuters reported. The private Caixin/Markit factory Purchasing Managers’ Index (PMI) fell to 50.0, the lowest reading since May 2017.

09:06 AM

Infibeam complains to Sebi about WhatsApp message

Last week, a WhatsApp message, allegedly attributed to brokerage Equirus, raised questions on Infibeam’s accounting policies and corporate governance. The note also mentioned that the company gave an interest-free and unsecured loan to a subsidiary with negative net assets to be repaid over eight years. It further said that the company has re-classified its co-founder, who continues to hold a large chunk of shares, as non-promoter.

09:06 AM

China to cut import tariffs on wide range of products

China will cut import tariffs on textile products and metals, including steel products, to 8.4 per cent from 11.5 per cent, effective November 1, the finance ministry said on Sunday. Beijing has pledged to take steps to increase imports this year amid rising tension with some of its biggest trade partners, such as the United States.

09:06 AM

India wants to have trade deal with US: Trump

President Donald Trump on Saturday said that India wants to have a trade deal with the US because it does not want him to impose tariffs on their products. Trump remarks, for the second time in recent weeks, comes days after Assistant US Trade Representative Mark Linscott returned from India where he had detailed discussion with senior Indian officials on bilateral trade.

09:05 AM

US stocks ended flat on Friday

The Dow Jones Industrial Average advanced 18.38 points, or 0.07 per cent, to close at 26,458.31. The S&P500 index ended flat at 2,914. The Nasdaq Composite index gained 4.39 points, or 0.05 per cent, to 8,046.35.

09:05 AM

Rainfall at 91% of long-term average

Rains were 91 percent of the long-term average at the end of the July-September monsoon season, compared with a forecast of 97 percent, marking the fifth straight year in which the weather office has overestimated the likely rainfall.

09:05 AM

RBI likely to raise rate by 25 bps

India’s monetary policy makers may raise rates for the third time in the current cycle later this week, with the central bank seeking to maintain a delicate balance between meeting the liquidity needs of a nervous capital market and restraining inflation amid a steep fall in the rupee’s value.

09:05 AM

Dinesh Engineers IPO subscribed 0.54% on Day 1

The company received bids for 5,43,600 shares against the issue size of 1,00,00,000 equity shares. The price band has been fixed at Rs 183-185. The proceeds of the issue will be used for expansion of business by setting up of further optical fibre cable (OFC) network.